After two months of steadily rising prices at the gas pump, retail gasoline prices in Chattanooga fell last week by an average of 2.5 cents per gallon, according to gasoline price website GasBuddy.com.
The average price of gas in Chattanooga Sunday was $2.07 per gallon, or 27 cents per gallon below the U.S. average of $2.34 per gallon.
Nine area stations in Chattanooga are selling gas today for $1.95 per gallon - the lowest price in the region among stations surveyed by GasBuddy.com
Despite the weekly drop in prices, gas prices in Chattanooga are still 7.2 cents per gallon higher than a month ago and 45.5 cents per gallon above a year ago. Oil analysts also expect gas prices to head higher next month.
"For the first time since November, the national average price for gasoline has fallen over the last week, helped by weak demand and rising gasoline inventories," Patrick DeHaan, senior petroleum analyst for GasBuddy, said in a statement today. "However, motorists shouldn't expect the trend to last long. After the sweetness of Valentine's Day roses and chocolates is gone, they will be in store for a jump at the pump as maintenance season begins and the long transition to summer gasoline becomes a pinch point, leading to gas prices that will mostly trend higher for two to three months."